SAN MATEO, Calif. – April 27, 2012 – Stockbridge and Wilson Meany Sullivan (WMS) have announced that Shea Homes will be the second homebuilder at Bay Meadows, California’s largest Transit Oriented Development (TOD), now rising along the Caltrain line in San Mateo. Immediately following the closing of TRI Pointe Homes (TPH), Shea Homes has purchased the second residential parcel available and plans to construction as early as summer 2012, with model home openings and sales launching in early 2013. Shea Homes will begin work on its Landsdowne residences, available in eight floor plans with a mix of two-, three- and four-bedroom homes from 1,150 up to 2,200 square feet. Landsdowne homes are oriented to the greenery of Bay Meadows’ 12-acre park. Consistent with Bay Meadows’ pedestrian-friendly approach, garages are at the rear of each home. Landsdowne, as well as TPH’s Amelia residences, are designed by KTGY Architecture + Planning.
The comprehensively sustainable Bay Meadows will also feature five LEED-certified office buildings, a traditional town square and main street retail.
“Signing Shea Homes exemplifies the positive momentum Bay Meadows is generating, and we are very excited to get construction underway on two residential neighborhoods this summer, with sales starting in late 2012,” said Christopher Meany, partner at WMS. “Shea Homes has long been recognized as one of ‘America’s Best Builders,’ and its progressive approach to anticipating consumer demand is perfectly aligned with Bay Meadows.”
The initial neighborhoods at Bay Meadows will set the
standard for people who want to live in a comprehensively sustainable and environmentally friendly atmosphere at the forefront of innovation and comfort.
“We’re looking forward to being a part of Bay Meadows. The outstanding location, progressive design and well thought-out vision make it a great fit for Shea Homes. We put a great deal of care into our homes and communities; Landsdowne in Bay Meadows will be no different. We’ll bring our innovative style, quality construction and high level of customer care to further enhance the Bay Meadow’s urban village” stated Layne Marceau, President of Shea Homes Northern California.
Designed to address the growing market for accessible and responsible housing in the Bay Area and Silicon Valley, Bay Meadows is the new urban village between San Francisco and San Jose on the Caltrain commuter rail line. Homeowners will also enjoy the existing conveniences of adjacent local retail and restaurants on 25th Avenue, the Hillsdale Shopping Center, Whole Foods and Hillsdale Train Station. An interest list is now forming for potential homebuyers of Landsdowne at baymeadows.com.
The Concept – Life in Motion
Bay Meadows was designed to afford homeowners the luxury of pulling into their driveway on Friday evening and not having to get into their car again for the weekend, whether they need groceries, want to have an afternoon picnic in a gorgeous 12-acre park, plant heirloom tomatoes on a plot of the community garden, or even hop on a train for a night out in San Francisco. Beyond this, residents are also able to wake Monday morning and walk down the block to catch a train to an office in Silicon Valley, San Francisco or any destination served by Caltrain. Conversely, there is also the option of walking to work at the adjacent LEED-certified office buildings. Bay Meadows brings the concept of a “forwardly mobile” lifestyle to the San Francisco Peninsula.
“Here, mobility and aspiration have a long history,” said Meany. “In its earliest days, Bay Meadows was the site of an airfield. The land then became home to Bay Meadows Racetrack, a place passionate about the pursuit of glory and achievement. Now, the evolution of mobility culminates in this new urban village at the rail station, and continues a legacy of forward thinking, progress, energy and aspiration for those looking for an inspired way of life.”
Bay Meadows will be a comprehensively sustainable transportation-centered pedestrian village mid-way between San Francisco and Silicon Valley designed with state-of-the-art buildings redefining a new walkable urbanism. As a TOD, Bay Meadows’ sustainable initiatives will allow residents a dramatic reduction of car trips. In addition construction and design are as energy-efficient as possible – minimizing fossil-fuel consumption, recycling of concrete and asphalt, replanting trees, employing advanced storm-water systems and using sustainable materials.
“We are committed to designing a sustainable community, which includes thoughtful planning, distinct architecture and building practices that ensure all buildings are constructed using LEED or Green Point Rated criteria,” said Meany. “Thinking holistically about Bay Meadows and sustainability will create a unique community for people to live and work.”
Enhancing the overall green environment of Bay Meadows are three public parks totaling 15 acres, a community garden, and various open spaces throughout the property. The completed TOD will include housing, employment opportunities, Main Street retail and recreation. The final development will include 1,171 residential units, up to 1.5 million rentable square feet of office space and approximately 90,000 square feet of retail space. With onsite amenities such as healthcare, childcare, financial services, and dry cleaning, Bay Meadows is designed for how people want to live now.
About Wilson Meany Sullivan
WMS is a privately owned real estate investment and development firm focused on urban infill locations in the Western United States. WMS brings more than 35 years of experience to its mixed-use, residential, retail and office developments, all of which reflect the company’s commitment to integrity, innovation and quality, including San Francisco’s renowned Ferry Building. Founded in 2003, WMS and its predecessor entities have long been recognized
among the most respected and consistently successful investment and development firms in the San Francisco Bay Area. Collectively, WMS’s partners and professionals have developed over 10 million square feet, including some of the most innovative and distinctive properties in California. For more information visit www.wmspartners.com
About Shea Homes
Family owned since 1881, the J.F. Shea Company has been involved in legendary construction projects including the Golden Gate Bridge, the Hoover Dam and BART. Since 1968, Shea Homes, an independent member of the Shea Family of Companies, has built some of the finest homes and master-planned communities for more than 73,000 families and is one of America’s largest privately owned homebuilders. In Northern California, Shea Homes brings insight, inspiration and a passion for excellence to every community they build, which is why they consistently receive industry awards and achieve a 96% customer approval rating. Recently, Shea Homes was named one of America’s Customer Service Champions by J.D. Powers & Associates – the only homebuilder named to this prestigious list of blue chip companies two years in a row. In addition, Shea Homes in Northern California ranked #1 in Customer Satisfaction for homebuilders in the Bay Area for 2009 and 2010, while also being honored as the 2010 Builder of the Year by the Building Industry Associate of the Bay Area. Shea Homes is honored to be acknowledged for its excellence as a home builder. These honors validate over a century of commitment to craftsmanship and customer service. For more information visit www.sheahomes.com
Stockbridge is a real estate investment management firm and Registered Investment Advisor founded in 2003. The firm and its affiliated advisor manage both commingled funds and separate accounts primarily on behalf of institutional investors, and also provide strategic advisory services with respect to real estate assets and portfolios. The firm’s portfolio comprises assets across the investment risk spectrum, including core, value-added and opportunistic strategies. Stockbridge and its affiliated advisor have approximately $4.5 billion of assets under management (as of December 31, 2011) spanning all major real estate property types throughout the United States. The firm provides a full complement of expertise in acquisitions, dispositions, portfolio & asset management, finance, capital markets and accounting & reporting. Stockbridge is headquartered in San Francisco with offices in Chicago, New York and Atlanta. For more information visit www.sbfund.com
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